According to a tweet from the company’s CEO, Changpeng Zhao, cryptocurrency exchange Binance has not sold either bitcoin BTC= or Binance Coin BNB=CCCL, its native token.
In-depth details about Bitcoin and Binance Coin have not been sold by Binance, according to CEO
The U.S. Securities and Exchange Commission filed a lawsuit against Binance last week, listing 13 allegations against the business, Zhao, and the person in control of its ostensibly independent U.S. exchange.
Concerns about the potential extension of the crypto market’s crisis have grown as a result of the lawsuits filed against Binance and Coinbase Global. The industry has already been devastated by a number of collapses, including the bankruptcy of FTX, Binance’s main rival, last year.
Since the SEC’s move, the value of Binance Coin has decreased by more than 20%.